Premier Tech announces $45.9M innovation investment
By Premier Tech
July 14, 2015 - Premier Tech recently announced a $45.9-million investment in innovation, alongside Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec.
By Premier Tech
This announcement follows the signature of a $8.3 million dollar refundable contribution agreement between Canada Economic Development and Premier Tech.
Premier Tech’s new three-year Innovation, Research and Development (IR&D) program, named IDEE – Innovation and Development for Elevating Exportations – will allow the company to accelerate the technological and commercial progression of its three groups through 24 distinct IR&D initiatives. The IDEE program represents a total investment of $45.9 million by Premier Tech. Supported by the refundable contribution received from Canada Economic Development, the program will promote the creation of 45 Canadian jobs, mainly in Quebec, in the Rivière-du-Loup area.
“Through the years, Premier Tech was able to identify promising development niches and to implement a unique and unequalled IR&D capacity in its three core industries at the international level,” said Bernard Bélanger, Chairman of the Board and CEO of Premier Tech. “Our continued and sustained investments i Innovation have fuelled our commercial successes and allowed us to record an annualized growth rate of 11.5 per cent over the last 25 years. This new partnership with Canada Economic Development will give us the latitude to fully leverage our Innovation capacities as well as the potential of the business sectors targeted by IDEE.”
Premier Tech has been growing its leadership position globally for more than 90 years, driven by the collective power of its 3 250 team members in 23 countries. Leveraging its human capital as well as a deeply rooted Culture revolving around innovation and excellence, Premier Tech focuses its efforts in three core industries: Horticulture and Agriculture – greenhouse production, agriculture, and lawn and garden; Industrial Equipment – rigid and flexible packaging, material handling, and palletizing; and Environmental Technologies – wastewater treatment and rainwater harvesting. Committed to the long-term success of its clients, Premier Tech today records sales of 600 million dollars, backed by a strong manufacturing and commercial expertise, a far-reaching entrepreneurial approach and a quarter century-long track record of solid growth.